Partner Article

Strong performance by Manchester debt management experts

A fast-growing Manchester company which buys up debt from banks and other commercial institution, to secure secure maximum repayments via its data and analytic systems, has reported strong results for the first half year.

Arrow Global declared revenues for the period rose by 55% to £48.3m.

The firm acquired debt portfolios with a face value of £999m for an aggregate purchase price of £68.5m, with 85.1% of the purchase price underpinned by paying accounts. These acquisitions bring the face value of total assets under its management to £8.5bn, including £6.9bn of purchased assets.

Arrow Global is majority-owned by the private equity arm of RBS, the Special Opportunities Fund,

The firm asserts that its data analysis and account segmentation processes help ensure that each customer is offered the most suitable for their individual circumstances.

Total collections – carried out by third-party suppliers - were up by £34.9% to £69.6m.

The company’s chief executive Tom Drury said: “Arrow Global had a strong second quarter, contributing to a very good first half. “Looking forward, we believe we have a strong pipeline of portfolio acquisition opportunities in our core UK market, where the outlook remains strong. “We also continue to evaluate new market opportunities where there may be potential scope to further enhance returns. All this taken together gives us good reason to look forward to the future with confidence.” Arrow Global has also strengthened its senior team with the appointment of Steve Greenwood as chief risk officer and the promotion of Georgina Hayes to director of operations.

This was posted in Bdaily's Members' News section by Simon Malia .